Valued Member
Posts: 37
Registered: ‎07-29-2010

Don't know whether to apply for new credit card

My FICO scores are 645/648.  I investigated obtaining another credit card just to increase my total credit limit, which would reduce my debt to credit ratio;  however, the only card that would consider me had a 23.9% interest rate (I did not submit the app after seeing that.)  Afterwards, it occurred to me that since I have no intention of using the card in the first place, the high interest rate issue is moot.  Would taking this step increase my FICO score?, or would the increase be so insignificant as to not be worth the effort?  I believe the credit increase would be between $2-3K.



Starting Score:585
Current Score: EQ 656 TU 680
Goal Score: 700
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Moderator Emeritus
Posts: 16,166
Registered: ‎03-12-2007

Re: Don't know whether to apply for new credit card

Moving to credit cards.

Mega Contributor
Posts: 16,868
Registered: ‎10-23-2007

Re: Don't know whether to apply for new credit card

What bank are you applying with?

whats your current limits look like?

Util on current accounts?

Fico Scores: EQ 620, TU 675 & EX 703 (4-1-14)
Joint Cards: Navy NavCheck $15000, Discover iT $9000, Macy Amex $4000, Macy Store $3000, Macy Furniture $5800
AU: Virgin America $8500, CSP $27,000, Fidelity Amex $25,000, AA Biz $25,000, Barclay USAir Biz $6640
Mine: Navy NavCheck $3000, Kay Jewelry $2700, Pottery Barn $2800, FleetCard MC Biz $1800, HSN $1500, Vitacost MC $1500, Navy Cash $1500 and nRewards $1500, Bill Me Later $772, Cap1 Sony $750, Cap1 Spark $750, Best Buy MC $750, GE 76 Gas $650, Von Maur $600, Cap1 QuickSilver $500, Burbank CU $500, Kohls $300, Target1 $300, Target2 $300, Buckle $250, Express $250, Target3 $200

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